Vietnam’s auto imports surge in January-April

Vietnam experienced a notable increase in automotive imports between January and April compared to the same period last year, in spite of a subsequent drop in April, according to data from the General Department of Vietnam Customs.

The country imported 54,344 completely-built-up (CBU) autos in January-April, up 47.2 percent in volume and 33.4 percent in value year on year.

The imports comprised 43,856 sedans, hatchbacks, sport utility vehicles (SUVs), minivans, and multi-purpose vehicles (MPVs), marking an increase of 45.6 percent compared to the same period last year, and 7,773 units designed for goods transportation, indicating a significant upswing of 109 percent.

Thailand was Vietnam’s biggest auto exporter in the four-month period, with around 27,150 units worth US$545 million, followed by Indonesia with 19,050 units valued at $260 million and China with 3,617 units costing $135 million.

The importation slowed down in April when Vietnam brought in 12,323 CBU cars worth $288 million, down 19.1 percent in volume and value compared to March.

The amount included 6,098 units sent from Thailand, 3,924 units sold by Indonesia, and 1,206 units bought from China.

Data from the General Statistics Office showed that 109,500 cars were produced and assembled in Vietnam between January and April, representing a 20-percent decline compared to the corresponding period in 2022.

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